In a recorded message from the Casa Rosada, Macri announced this morning that the government is negotiating a loan from the International Monetary Fund (IMF).
“You know I made the commitment to always tell you the truth,” he begins.
”I got into politics to work every day so every Argentine could have a better life. We are going down the only road possible to get out of the stagnant state we were in. In order to avoid a crisis, we implemented gradual economic policies, seeking to balance our books by looking after the vulnerable sectors and achieving economic growth at the same time.”
“But these policies depend a lot on external financing. During the first two years [of my tenure] we had a favorable context. That is changing, the situation is more complex. Interest rates are going up, oil prices too, as well as other variables we have no influence on. We are one of the countries that depend on financing the most.”
“As a preemptive measure, I have decided to start conversations with the IMF. Minutes ago, I spoke with [IMF Director Christine] Lagarde and we will start working on an agreement today. This will help us strengthen our plan to develop and grow. I tell all Argentines that, fulfilling our commitments and straying away from demagoguery, we will move towards a better future for us all.”